Local residents have fun at Lizhi Park next to Kingkey 100 Tower, tallest, and other skyscrapers and high-rise buildings in Shenzhen city, south China's Guangdong province, 12 February 2015. [Photo/IC]
Local residents browse imported products in Shenzhen's first bonded experience store in Qianhai on Friday. [Photo/Szdaily]
Qianhai and neighboring Shekou are part of the Guangdong Free Trade Zone, which is soon to be launched. The store operator said they sell a variety of imported products at tax-free prices. The store, covering an area of 400 square meters, offers residents a hands-on experience before placing an order on its website. Under related regulations, each resident is eligible to buy tax-free products worth no more than 500 yuan (US$80) per purchase and 1,000 yuan per day. The products will be delivered to the buyers.
Overall plans for three experimental free trade zones (FTZs) in Guangdong, Tianjin and Fujian, and improvements to the Shanghai experimental FTZ were approved Tuesday at a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee.
Guangdong's pilot free trade zone has made its way into this year's Government Work Report, generating much interest among the general public and the deputies of the National People's Congress. Nansha New District, part of the free trade zone, will roll out a series of measures to facilitate free trade, including a new model of customs inspection and clearance. And Guangzhou Port Group will also take advantage of the opportunity to build an international shipping center, while Guangzhou Port Limited plans on an IPO later this year.